Bank of America Corp DE Invests $83.83 Million in Builders FirstSource, Inc. $BLDR

Key Points

• Bank of America acquired 936,880 Builders FirstSource shares worth approximately $83.8 million, representing about 0.87% of the company. Institutional investors collectively own 95.53% of BLDR.
• Analysts remain mixed, with a consensus rating of “Hold” and an average price target of $87.27, despite several firms maintaining Buy or Overweight ratings after lowering their targets.
• BLDR’s latest quarter fell short of expectations: earnings were $1.17 per share versus the $1.25 consensus, while revenue declined 8.8% year over year to $3.86 billion. Shares opened at $58.10, near the company’s 12-month low of $56.56.

Bank of America Corp DE acquired a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 936,880 shares of the company's stock, valued at approximately $83,832,000. Bank of America Corp DE owned approximately 0.87% of Builders FirstSource at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BLDR. BlackRock Inc. acquired a new position in Builders FirstSource in the second quarter worth approximately $700,934,000. Dimensional Fund Advisors LP raised its holdings in shares of Builders FirstSource by 12.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,967,744 shares of the company's stock valued at $244,301,000 after purchasing an additional 325,935 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Builders FirstSource by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 2,817,958 shares of the company's stock valued at $288,789,000 after purchasing an additional 14,420 shares during the last quarter. Sands Capital Management LLC boosted its holdings in Builders FirstSource by 13.5% in the fourth quarter. Sands Capital Management LLC now owns 2,757,969 shares of the company's stock worth $283,767,000 after purchasing an additional 327,067 shares in the last quarter. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Builders FirstSource in the second quarter worth $134,908,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Analyst Upgrades and Downgrades

BLDR has been the topic of a number of analyst reports. Benchmark lowered their price objective on Builders FirstSource from $105.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, July 23rd. Royal Bank Of Canada reduced their target price on Builders FirstSource from $107.00 to $88.00 and set an "outperform" rating for the company in a report on Friday, July 31st. KeyCorp decreased their target price on Builders FirstSource from $100.00 to $91.00 and set an "overweight" rating for the company in a research report on Monday, July 13th. Truist Financial lowered their price target on Builders FirstSource from $115.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Finally, Barclays dropped their price target on shares of Builders FirstSource from $93.00 to $81.00 and set an "overweight" rating on the stock in a research report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $87.27.

Builders FirstSource Stock Up 0.7%

Shares of BLDR stock opened at $58.10 on Friday. Builders FirstSource, Inc. has a 12 month low of $56.56 and a 12 month high of $131.50. The company has a quick ratio of 1.09, a current ratio of 1.79 and a debt-to-equity ratio of 1.14. The firm has a market cap of $6.25 billion, a PE ratio of 63.85, a price-to-earnings-growth ratio of 1.86 and a beta of 1.41. The stock has a 50 day moving average of $68.78 and a 200-day moving average of $77.33.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.25 by ($0.08). The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.91 billion. Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. Builders FirstSource's revenue for the quarter was down 8.8% on a year-over-year basis. During the same period last year, the company earned $2.38 earnings per share. On average, equities analysts predict that Builders FirstSource, Inc. will post 3.19 EPS for the current year.

Builders FirstSource Company Profile

Builders FirstSource, Inc NYSE: BLDR is a supplier and manufacturer of building materials, manufactured components and construction services for professional homebuilders, contractors, remodelers and other construction customers. The company serves customers primarily across the United States through a network of locations and distribution facilities.

Its product offerings include lumber and engineered wood products, windows, doors, siding, roofing, insulation, cabinets, countertops, stairs and other construction materials.

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